FG Targets $70m Profit From Crude Supply To Indonesia     The Nigerian National Petroleum Corporation (NNPC) through its subsidiary, Duke Oil, has sealed a pact to supply 30,000 barrels per day crude oil supply to Indonesia’s state oil corporation, Pertamina and Indian Oil Corporation. The development, which...

Rise In Oil Price Continues, Inches Closer To $75pb     The price of crude oil crept higher yesterday, almost hitting the $75 per barrel mark as industry data pointed to a substantial decline in United States crude stockpiles coupled with rising fuel sales in India as...

World Bank Outlines steps for Nigeria's Economic Revovery The World Bank has outlined faster steps for Nigeria's economic recovery apart from taking other measures to deepen ongoing reforms undertaken by the country. According to the Bank, the measures would assist avoid threats to the government’s macroeconomic...

NLNG Records $110bn Revenue       The Nigerian Liquidfied Natural Gas (NLNG) yesterday said its revenue generation since 1999 has exceeded $110 billion. Its Managing Director, Mr. Tony Attah made this known at the press conference in Abuja, where he announced the firm’s Sales and Purchase Agreements (SPAs)...

$40bn Investments Needed for Nigeria’s Gas Plan - NNPC       The Nigerian National Petroleum Corporation (NNPC) has said that the Nigerian oil and gas industry will require at least $40 billion in direct investments in basic infrastructure to achieve the federal government’s much talked-about about “Decade...

NNPC Seeks To Acquire 20% Stake In Dangote Refinery       The Nigerian National Petroleum Corporation (NNPC) has expressed interest in purchasing a 20 per cent minority equity stake in Dangote Refinery, Lagos, reputed to be Africa’s biggest oil refining facility and the world’s largest single-train plant. The...